European natural gas prices rose by more than 5% on Monday after Iran moved to close the Strait of Hormuz, raising fresh concerns about global energy flows.
During European trading, the benchmark Dutch TTF contract was up 5.04% at €40.74 per megawatt hour by around 11:00.
Earlier in Asian trading, prices briefly climbed to €42 per megawatt hour before easing.
Gains were also recorded in other major markets. UK gas prices rose by 5.6% to 102.4 pence per therm, while US natural gas increased by 1.8% to $2.72 per million British thermal units.
The move reflects heightened sensitivity in energy markets to geopolitical developments in the Gulf, with the Strait of Hormuz a key transit route for global oil and gas supplies.
Source: CNA
